Creamy Eggnog

Soft Custard (below)
1 cup whipping cream
2 tbsp powdered sugar
1/2 tsp vanilla
1/2 cup rum
Yellow food color, if desired
Ground nutmeg

Prepare Soft Custard.
Just before serving, beat whipping cream, powdered sugar and vanilla in chilled medium bowl with electric mixer on high speed until stiff. Gently stir 1 cup of the whipped cream, the rum and 1 or 2 drops food color into custard.
Pour custard mixture into small punch bowl. Drop remaining whipped cream in mounds onto custard mixture. Sprinkle with nutmeg. Serve immediately. Refrigerate any remaining eggnog.